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Yoon vows strong support for new space industry cluster

President Yoon Suk Yeol pledged Wednesday to expand the budget for space development to over 1.5 trillion won ($1.14 billion) by 2027 as he attended the launch of a new space industry cluster in the southern part of the country.

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Gov't to increase annual space budget to $1.14 bil. by 2027

Korea will expand its space industry development budget to 1.5 trillion won ($1.14 billion) by 2027 and attract 100 trillion won in private investment by 2045 to create 250,000 high-quality jobs, President Yoon Suk Yeol said Wednesday, vowing to position the space business as a key national industry.

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Airbus official says may build research center in Korea to enhance partnership

A senior official at Airbus SE, Europe's aerospace giant, said Monday that the company may build a research and development (R&D) center in Korea as it seeks to enhance partnerships with local firms.

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Korea's KF-21 fighter gets 'provisional' combat suitability evaluation

Korea's homegrown KF-21 fighter jet passed a provisional combat suitability evaluation earlier this week, the state arms procurement agency said Tuesday, in a key milestone ahead of its initial production phase set to begin next year.

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Korean fighter jet ready for takeoff this month

Korean fighter jet ready for takeoff this month

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US planning to replace India with South Korea in QUAD

India has been resisting converting QUAD into a security alliance.

This forced US to create AUKUS as an alternative to confront China.

Now the new South...

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Korea, UAE discuss defense industry cooperation

Korea, UAE discuss defense industry cooperation

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KUNA : S. Korea, UAE discuss defense industry coop. - Military

KUNA : S. Korea, UAE discuss defense industry coop. - Military
kuna.net.kw - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from kuna.net.kw Daily Mail and Mail on Sunday newspapers.

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Korea Aerospace's first quarter net dips 85 percent amid pandemic

Korea Aerospace's first quarter net dips 85 percent amid pandemic
Posted : 2021-05-07 18:12
Updated : 2021-05-07 18:12
The prototype of the KF-21 Boramae fighter jet during its unveiling ceremony at the Korea Aerospace Industries in Sacheon, South Gyeongsang Province, April 9, 2021 / Yonhap
Korea Aerospace Industries (KAI), the country's sole aircraft manufacturer, said Friday its first-quarter net profit plunged 85 percent due to the coronavirus impact on its business.
Net profit for the three months that ended in March fell to 11.9 billion won ($10.6 million) from 79.5 billion won a year earlier, the company said in a regulatory filing.
"The COVID-19 pandemic drove down passenger jet parts orders (from Airbus and Boeing) and affected possible deals to export aircrafts," a company spokeswoman said over the phone.

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South Korea rolls out the KF-21, joining elite group of global supersonic fighter jet makers

South Korea rolls out the KF-21, joining elite group of global supersonic fighter jet makers
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